Reported 1 day ago
Retirees are set to see a 2.5% cost-of-living adjustment (COLA) to their Social Security benefits in 2025, amounting to an increase of about $50 per month. However, due to a concurrent rise in Medicare Part B premiums which will deduct an additional $10.30 monthly from benefits, the actual average take-home increase will be around $37.81—approximately 20% lower than expected. This discrepancy highlights that while the COLA looks favorable, the costs associated with healthcare will significantly impact retirees' net income.
Source: YAHOO